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CMG Holdings, Inc. Acquires Cel Art Animation Library Featuring Works From Studios Sony/Columbia, MCA/Universal, Lucasfilm and Filmation


April 13, 2011 - MIAMI, FL

CMG Holdings, Inc., (CMG) (OTCQB: CMGO), a full service global marketing, sports, entertainment and management communications company, that operates in the sectors of talent management, event management and commercial rights, is pleased to announce that CMG Holdings, Inc. has agreed to acquire Cel Art Library from Continental Investments Group Inc. and License the property through its wholly owned subsidiary, Creative Management Group Inc. Agency.

Cel Art includes 20,000 cels of cartoon animation art together with all rights, title and interest to CMG. The Studios, quantities and series represented in the acquisition consist of the following:

Filmation
1,500 cels of "She-Ra Princess of Power"
1,500 cels of "He-Man and the Masters of the Universe"
1,500 cels of "Flash Gordon"
2,500 cels of "Bravestarr"

MCA/Universal
3,000 cels of "Back to the Future"
2,000 cels of "Beethoven"
1,500 cels of "Shelley Duvall's Bedtime Stories"

Lucasfilms
3,500 cels of "Star Wars Ewoks"

Sony/Columbia
3,000 cels of "The Real Ghostbusters"

These original hand-painted animation cels and/or drawings are used in the actual production of the cartoons. Cels (short for "celluloids") are the fundamental building blocks behind all traditional animated film entertainment. Cel Art collection consists of completed individual cartoon cels that are matted, sealed with certificates of authenticity as well as raw Cel Art products that need to be archived, assembled and cataloged. The complete Cel Art collection has an estimated value of $47 million dollars.

Some unique cels have fetched record prices at art auctions. Disney Stores sold production cels from "The Little Mermaid" (their last film to use cels) at prices from $2,500 to $3,500, without the original backgrounds as referenced in "The Art of Disney and Sotheby's Animation Magazine," January 1995; May 1995.

Creative Management Group Inc. Agency (CMG) will be the exclusive agency of record to license and sell the works worldwide. The announcement was made today by CMG Holdings, Inc. Chairman and CEO Alan Morell who negotiated the arrangement with Steve Markley, President of Continental Investments Group Inc. Mr. Morell will serve as the lead commercial Agent due to his experience in licensing representation for Marilyn Monroe (Norma Jean collection) licensing library of work.

"We looked for years to find the right Agent and Agency to represent our valuable collection, and decided on CMG with its impeccable reputation in licensing and management of similar properties," said Mr. Markley.

Mr. Morell, CEO of CMG Holdings, Inc., stated, "Cel Art acquisition fits our twofold agenda allowing our Company to have a very valuable asset in an entertainment library, a similar model to the Columbia Sony acquisition by Turner Broadcasting System (TBS), with a synergy fit of having Creative Management Group Inc. Agency, along with our other wholly owned subsidiaries (XA and AudioEye), implement the 2012 Cel Art tour along with video streaming and the works through CMG's digital internet network." Mr. Morell continues by saying, "We expect Cel Art to increase in value as we implement a worldwide licensing sponsorship program to support this asset over the next 18 months, which is a standard licensing timeline for a product of this nature."

For More Information visit:
www.cmgholdingsinc.com, www.creativemanagementgroup.com

About CMG
CMG Holdings, Inc. is a full service global marketing and communications company operating in the sectors of talent management, event management and commercial rights. Talent Management includes representation of personalities in the entertainment, athletic, literary industries for endorsements, licensing, speaking appearances, and image marketing. Event Management includes marquee hospitality, sponsorships, licensing, production and implementation of events including hospitality services pairing corporate client sponsors and premier events to ensure the highest return on their investment and brand exposure. Commercial Rights includes branding, consulting, licensing, sponsorships, and sales through image marketing tools to generate premier brand recognition for our clients.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular, when used in the preceding discussion, the words 'believes,' 'expects,' 'intends,' 'will,' 'anticipated,' or 'may,' and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. CMG Holdings Inc., Inc. (OTC Markets QB: CMGO) takes no obligation to update or correct forward-looking statements and also takes no obligation to update or correct information prepared by third parties that is not paid for by the Company.

Contact:
Henry Harrison
IR Pro 2.0, Inc.
(407) 682-2001
hharrison@insidewallstreet.com

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